State Labor Markets in September 2023
|in:Viewpoints
State labor markets were soft-to-mixed in September. Only 6 states saw statistically significant increases in payroll, though none reported a statistically significance drop. Texas gained 61,400 jobs and South Dakota reported a .9 percent increase. September was the third straight month in which the sum of state job changes fell short of the national figure; the sum of the differences since June is around 150,000.
A full 16 states had statistically significant increases in unemployment from August to September, with a .3 percentage point increase in Illinois. Once again, Nevada continues to have the highest rate of any state in the nation, at 5.4 percent. Nevada and DC had unemployment rates at least one point higher than the national average of 3.8 percent. (California is the only other state with a rate statistically higher than the nation. Alabama, Florida, Hawaii, Kansas, Maine, Maryland, Massachusetts, Montana, Nebraska, New Hampshire, North Dakota, Rhode Island, Utah, Vermont, and Virginia, were all at least a point lower, with Maryland at 1.6 percent.
Puerto Rico’s unemployment rate moved down to 6.0 percent. The island added 2,000 jobs, and the private-sector total set a new all-time high.
Charles Steindel
AuthorMore in Author Profile »Charles Steindel has been editor of Business Economics, the journal of the National Association for Business Economics, since 2016. From 2014 to 2021 he was Resident Scholar at the Anisfield School of Business, Ramapo College of New Jersey. From 2010 to 2014 he was the first Chief Economist of the New Jersey Department of the Treasury, with responsibilities for economic and revenue projections and analysis of state economic policy. He came to the Treasury after a long career at the Federal Reserve Bank of New York, where he played a major role in forecasting and policy advice and rose to the rank of Senior Vice-President. He has served in leadership positions in a number of professional organizations. In 2011 he received the William F. Butler Award from the New York Association for Business Economics, is a fellow of NABE and of the Money Marketeers of New York University, and has received several awards for articles published in Business Economics. In 2017 he delivered Ramapo College's Sebastian J. Raciti Memorial Lecture. He is a member of the panel for the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters and of the Committee on Research in Income and Wealth. He has published papers in a range of areas, and is the author of Economic Indicators for Professionals: Putting the Statistics into Perspective. He received his bachelor's degree from Emory University, his Ph.D. from the Massachusetts Institute of Technology, and is a National Association for Business Economics Certified Business EconomistTM.
Global